Toronto Dominion Bank grew its holdings in shares of Incyte Co. (NASDAQ:INCY) by 16.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 75,433 shares of the biopharmaceutical company’s stock after buying an additional 10,529 shares during the quarter. Toronto Dominion Bank’s holdings in Incyte were worth $7,144,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in INCY. Retirement Systems of Alabama grew its stake in Incyte by 2.5% in the fourth quarter. Retirement Systems of Alabama now owns 84,885 shares of the biopharmaceutical company’s stock worth $8,039,000 after purchasing an additional 2,052 shares in the last quarter. New Mexico Educational Retirement Board grew its stake in Incyte by 3.8% in the fourth quarter. New Mexico Educational Retirement Board now owns 16,400 shares of the biopharmaceutical company’s stock worth $1,553,000 after purchasing an additional 600 shares in the last quarter. Capital One National Association bought a new position in Incyte in the fourth quarter worth approximately $633,000. IPG Investment Advisors LLC bought a new position in Incyte in the fourth quarter worth approximately $273,000. Finally, NuWave Investment Management LLC purchased a new stake in Incyte during the fourth quarter worth $473,000. 93.58% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Incyte Co. (NASDAQ INCY) opened at $94.63 on Wednesday. Incyte Co. has a 12-month low of $80.85 and a 12-month high of $153.15. The company has a debt-to-equity ratio of 0.01, a current ratio of 4.01 and a quick ratio of 3.99.
In related news, insider David W. Gryska sold 1,952 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $85.56, for a total value of $167,013.12. Following the transaction, the insider now directly owns 12,922 shares of the company’s stock, valued at approximately $1,105,606.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Reid M. Huber sold 1,958 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $85.55, for a total transaction of $167,506.90. The disclosure for this sale can be found here. Insiders have sold a total of 15,670 shares of company stock worth $1,489,181 over the last 90 days. Insiders own 17.70% of the company’s stock.
A number of analysts have weighed in on INCY shares. Deutsche Bank started coverage on Incyte in a report on Tuesday, December 12th. They set a “hold” rating and a $106.00 target price for the company. Oppenheimer restated a “hold” rating and set a $110.00 target price (down previously from $120.00) on shares of Incyte in a report on Monday, January 22nd. Zacks Investment Research lowered Incyte from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Credit Suisse Group set a $145.00 target price on Incyte and gave the stock a “buy” rating in a report on Wednesday, February 14th. Finally, Citigroup reiterated a “market perform” rating and set a $120.00 price objective (down previously from $135.00) on shares of Incyte in a report on Tuesday, January 2nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $142.83.
Incyte Corporation is a biopharmaceutical company focused on the discovery, development and commercialization of therapeutics. Its portfolio includes compounds in various stages, ranging from preclinical to late-stage development, and commercialized products, such as JAKAFI (ruxolitinib) and ICLUSIG (ponatinib).
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